Geneva Management Group (GMG), a wealth management and business advisory firm, has launched a cryptocurrency department.
According to a statement, the new Crypto Solutions division will provide trading, analysis, corporate services, fund formation and management services.
Crypto Solutions managing director Mathieu Saint-Cyr said: 'While ultimately the purpose of crypto and blockchain is to “democratise” transactions by allowing peer-to-peer settlements, currently the lack of harmonised regulation and infrastructures leads investors to seek scarce professional support... As a regulated financial solutions provider, GMG has developed the expertise to bridge this gap.'
The department was founded in part because of client interest, according to CEO Dave Elzas.
'We witness an increasing interest in virtual currencies and blockchain technology among our clients, many of whom are entrepreneurs and extremely technology savvy,' he said.
The firm has set up its own e-wallet and can accept payment from clients in recognized cryptocurrencies. It is set up to invest in various blockchain projects, and has been assisting clients in setting up ICOs for the raising of capital using virtual currency.
Geneva Management Group was founded in 2000 as a multi-family office. It now provides a range of wealth, tax, real estate, insurance, business advisory and trading services.